BofA Takes ‘Giant Step’ as Mortgages, Cost Cuts Fuel Profit
The news follows CEO Moynihan's remarks in May that the firm would have to cut costs further in its trading division.
JPMorgan Profit Beats Analysts’ Estimates as Expenses Drop
The bank boosts net income despite a drop in revenue amid sluggish fixed-income trading.
JPMorgan Says U.S. Probing Asset Unit in Sale of Own Funds
The SEC and other groups are looking at the bank's use of proprietary products in its wealth management business.
JPMorgan Profit Rises 12% on Gains From Stock, Bond Trading
The bank boosts earnings on asset management 11% to $502 million, as total assets for the unit hit $1.8 trillion.
BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
AIG Promotes Peter Hancock to CEO
Hancock, head of property-casualty, will replace Benmosche Sept. 1.
Bank of America Fighting to Keep Dividend Hike After $4 Billion Blunder
Bank of America's note valuation error is "a step backwards for them," says one institutional investor, and "raises credibility issues."
BofA Halts Buybacks, Dividend Increase After Error; Stock Dives
Bank of America made a mistake in its stress-test report to the Federal Reserve; the stock took a 5.2% intraday slide.